you could use this set of annotation, just make them one then clone them and put them where you see entry, exit, etc.. no p/l pressure.
Thanks for the suggestion, I'm doing it. You should see SPY right now going all over the place (bid, ask and traded). Incredible this volatility. At least I took the ride on the first FTT from 1384 to 1400 so that's good. regards, Ivo
Ye Ha.... took the first FTT and rode it up from 1384 to 1398.... the PV readings were a big tip off to that move... plus didn't hurt to know that the 1382.50 was 100 day moving average for institutions... cj...
I actually been a lurker for some time as I tried to read as much in the background info as I can. Still reading as I find this a nice addition to my approach for trading futures. I started out today with my first trades drawing channels and such. I do not do it yet as detailed as you guys or with all the markings. I tried to just see the bigger picture for each channel adn look for FTTs or actual breakouts. I will attach my chart in a bit. I was able to make 2.5 points by the time the market actually opened (i.e. in the pre-market off of 4 trades with one losing trade in out of the 4). My total would have been bigger however on the open when I was short at 1390.50 I covered at 1389.25 because this is still new and I am feeling my way around. Naturaly that candle closed at 1385 so I would have grabbed another 4.25 points. I am not bothered I did not get those additional points because the "approach" got me in that specific entry, I just pulled the trigger fast due to the learning curve. So I could have had about 6 points trading the pre-market to the open alone. Very pleased with that potential. Naturally after the open I got involved in other trades and stepped away so I missed the breakout that on my chart occured at around 9:55 - 10:00 AM somewhere around 1390, give or take a few points since I am not as adept as this as you guys. However that signal with my lagging entry would still have gotten at worst another 5 points. While writing this I also jus noticed a FTT at the 10:30 AM 5min bar which would have led to a short entry at 1402.75 (hope this is not just hindsight) and the market is currently at 1399.50 as I write this for another 2 -3 points depending on where the exit would be. So for a newbie at these channels I can see on a really volatile day how one can steal about 10 - 15 points. I approached quite "pussily" and still grabbed 2.5 myself. I am giong to back study many days and practice drawing but I sill am at the basic level of just channels for right now. I am not grabbing gaussians or left to right or those other terms other than FTT but still seeing the trades at this low level. So I assume with more reading I will get a deeper understanding. Anyway thanks for all those who detail and summarize. I still see areas where I would get whipsawed on FBOs but today is more volatile than usual so I will take that with a grain of salt. EDIT: the recent FTT I mentioned above at 1402.75 showed another FTT and BO right now at 1403.25 for a long entry. ANyone else see that or am I seeing a whipsaw lol?
Yes, the Bid / Ask volitility is unusal of course so when it settles down doing an incremental sizing plan in the spy and later moving up to mutiple contracts in the ES is a great way to build confidence in the PV Channel method... cj..
Not sure about either of those entries... I had a short early on 10:20 bar and long on 10:35 bar...If you could post your chart we could help a bit better In any event, welcome!